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Ethereum Technical Analysis: Market is highly volatile

Ethereum Technical Analysis: Market is highly volatile
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MATIC Price Prediction: Polygon primed for a 25% rally


May 7, 2021 01:31 GMTCrypto News
MATIC price is in the final stages of composing a new base.
Low volume correction is a prelude to a new opportunity.
IOMAP model suggests MATIC price is facing stiff resistance near current level.
MATIC price enjoyed an impressive rally of over 100% following a multi-week consolidation in March and April but has since drifted lower. Still, the recent price action is revealing a bullish pattern that targets a double-digit gain moving forward. 
MATIC price maintains constructive tone
MATIC price corrected almost 30% from the April 30 high to the May 4 low, releasing the overbought condition that resulted from the tremendous rally in late April. As a result of the correction, Polygon may be forming an inverse head-and-shoulders pattern on the intra-day charts. Some time is still needed to finalize the right shoulder, but the symmetry of the pattern and the declining neckline are aligned with a bullish resolution. ....

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Ethereum price showing relative strength, but ETH forming an ominous pattern


Apr 25, 2021 21:06 GMTCrypto News
Ethereum price continues to hold the critical $2,041.42 on a daily closing basis.
Eager bulls should not disregard a potential head-and-shoulders pattern forming.
On-chain metrics speak to more upside, at least in the short term.
Ethereum price strength in the face of broader market weakness is more than anecdotal evidence that it could emerge as the cryptocurrency leader moving forward. For now, ETH is locked between the February high of $2,041.42 and the 161.8% Fibonacci extension of the February decline at $2,504.09, clouding the certainty of a sustainable rally.
Transaction fees, undervaluation, and marginal resistance keep the train on the tracks  ....

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